MoonLake Immunotherapeutics (NASDAQ:MLTX) Rating Increased to Buy at HC Wainwright

MoonLake Immunotherapeutics (NASDAQ:MLTX) was upgraded by HC Wainwright from a “neutral” rating to a “buy” rating in a research report issued on Monday,Benzinga reports. The brokerage presently has a $30.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 197.03% from the company’s previous close.

A number of other analysts have also weighed in on MLTX. Wolfe Research lowered shares of MoonLake Immunotherapeutics from an “outperform” rating to an “underperform” rating in a research report on Tuesday, September 30th. Stifel Nicolaus cut MoonLake Immunotherapeutics from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a research note on Monday, September 29th. Oppenheimer set a $25.00 price target on MoonLake Immunotherapeutics in a research note on Tuesday, October 7th. Redburn Atlantic raised MoonLake Immunotherapeutics to a “hold” rating in a research report on Monday, July 28th. Finally, Rothschild & Co Redburn initiated coverage on MoonLake Immunotherapeutics in a research note on Monday, July 28th. They issued a “neutral” rating and a $65.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, MoonLake Immunotherapeutics has an average rating of “Hold” and an average price target of $30.17.

MoonLake Immunotherapeutics Stock Up 3.0%

Shares of MLTX opened at $10.10 on Monday. The company has a quick ratio of 16.65, a current ratio of 16.65 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $32.43 and a 200 day moving average of $41.31. The company has a market cap of $648.72 million, a PE ratio of -3.63 and a beta of 1.13. MoonLake Immunotherapeutics has a 52-week low of $5.95 and a 52-week high of $62.75.

MoonLake Immunotherapeutics (NASDAQ:MLTX) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.14). During the same quarter last year, the company posted ($0.39) EPS. On average, sell-side analysts expect that MoonLake Immunotherapeutics will post -1.79 EPS for the current year.

Insider Activity at MoonLake Immunotherapeutics

In other news, major shareholder Bihua Chen sold 6,494,151 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $7.21, for a total transaction of $46,822,828.71. Following the transaction, the insider owned 2,000,000 shares in the company, valued at approximately $14,420,000. This trade represents a 76.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 12.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MLTX. Covestor Ltd bought a new stake in shares of MoonLake Immunotherapeutics in the 3rd quarter valued at about $46,000. SG Americas Securities LLC bought a new position in shares of MoonLake Immunotherapeutics during the third quarter valued at approximately $126,000. Squarepoint Ops LLC increased its holdings in MoonLake Immunotherapeutics by 3.7% during the second quarter. Squarepoint Ops LLC now owns 17,571 shares of the company’s stock valued at $829,000 after buying an additional 629 shares during the period. Hudson Bay Capital Management LP lifted its holdings in MoonLake Immunotherapeutics by 31.3% during the second quarter. Hudson Bay Capital Management LP now owns 105,000 shares of the company’s stock worth $4,956,000 after buying an additional 25,000 shares during the period. Finally, Vestal Point Capital LP boosted its position in MoonLake Immunotherapeutics by 175.0% during the 2nd quarter. Vestal Point Capital LP now owns 550,000 shares of the company’s stock valued at $25,960,000 after acquiring an additional 350,000 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It develops Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was incorporated in 2020 and is headquartered in Zug, Switzerland.